(VAN) Coffee prices on 10/05/2024, have surged again globally. Domestic coffee prices have increased significantly, trading between VND 114,800 – 115,700/kg.
Latest domestic and global coffee prices on 10/05/2024
Coffee prices on October 5 globally
Globally, both the London and New York exchanges saw coffee prices surge again on October 5.
In particular, Robusta prices on the London exchange for November 2024 delivery increased sharply by $ 146 (equivalent to 2.97%), reaching $ 5,067/ton. Meanwhile, the January 2025 contract rose by $ 139 (equivalent to 2.94%), at $ 4,859/ton.
On the New York exchange, Arabica prices for December 2024 delivery surged by 5.3 cents (equivalent to 2.1%), reaching 257.35 cents/lb. The March 2025 contract also climbed 5.15 cents (equivalent to 2.06%), hitting 255.65 cents/lb.
Latest Arabica and Robusta prices on 10/05/2024
Global coffee prices today saw a strong recovery after previous steep declines. However, this increase is still less than 30% of what was lost in the past two days.
The strengthening of the USD and the delayed enforcement of anti-deforestation regulations for coffee in Europe are key factors contributing to the sharp drop in coffee prices.
Additionally, coffee prices are under further pressure as the Brazilian real fell to its lowest level in a week on Thursday. A weaker real encourages Brazilian coffee producers to boost exports.
Thus, global coffee prices on 10/05/2024, increased significantly compared to the previous day.
Coffee prices on October 5 domestically
Domestically, the coffee market rebounded compared to the previous day.
Specifically, in Lam Dong province, the districts of Di Linh, Bao Loc, and Lam Ha are all trading at VND 114,800/kg.
In Dak Lak, Cu M’gar district is purchasing at VND 115,700/kg today. Meanwhile, Ea H’leo and Buon Ho districts are trading at VND 115,600/kg.
In Dak Nong, traders in Gia Nghia and Dak R’lap are buying at VND 115,500 and VND 115,400/kg, respectively.
In Gia Lai province, Chu Prong district is trading at VND 115,500/kg, while Pleiku and La Grai are maintaining a price of VND 115,400/kg.
In Kon Tum, the purchase price today is VND 115,200/kg.
Domestic coffee prices today have risen again. However, this level is still insignificant compared to the sharp decline experienced yesterday, hovering around VND 115,000/kg.
Thus, domestic coffee prices on 10/05/2024, are trading around the range of VND 114,800 – 115,700/kg.
$ 1 = VND 24.550 – Source: Vietcombank.
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